Marlboro Maker In Talks To Buy Canadian Pot Company

Aphria, a Canadian-based cannabis producer, rallied more than 16% Wednesday after a report said that Altria, the maker of Marlboro cigarettes, was in talks to buy a minority stake in the company, the Globe & Mail reported, citing unidentified people familiar with the matter.

According to the Globe & Mail, Altria has expressed an interest in acquiring a minority stake — with the intention of eventually holding a majority of Aphria’s shares — but details of the proposed investment are still being finalized, and talks could still fall through.

The maker of Corona beer has already taken a $4B stake in another Canadian pot company and Coca-Cola is in talks to create a “cannabis-infused” line of drinks that won’t actually get you high.